Martin Aitken & Co Ltd News & Developments

Martin Aitken & Co: news and comment

VAT Reverse Charge for Construction Services

From 1 March 2021, the way that VAT is accounted for on some subcontracted construction supplies will change.

Under the historic rules (pre-1 March), a VAT Registered subcontractor would invoice their customer for work carried out and apply VAT to this, which the customer would pay to the subcontractor in full.

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VAT: Construction Industry Reverse Charge 1 Oct 2019 (now delayed until 1 Oct 2020)

Please note: on Friday 6 September HMRC announced that the introduction of the Reverse Charge would be delayed for a year, until 1 October 2020 >read more. HMRC say the delay is to give affected businesses more time to prepare.

The existing rules (i.e. no Reverse Charge for construction supplies) will continue to apply until then.

If you have any query regarding this please contact our VAT Manager This email address is being protected from spambots. You need JavaScript enabled to view it..

 

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